Brokerages Set enCore Energy Corp. (NASDAQ:EU) Price Target at $3.83

Shares of enCore Energy Corp. (NASDAQ:EU) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $3.8333.

EU has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enCore Energy in a report on Wednesday, January 21st. Northland Securities started coverage on shares of enCore Energy in a report on Tuesday, January 6th. They set an “outperform” rating and a $3.50 target price for the company.

enCore Energy Price Performance

NASDAQ:EU opened at $2.10 on Thursday. enCore Energy has a 1-year low of $1.26 and a 1-year high of $4.18. The firm has a market cap of $407.86 million, a price-to-earnings ratio of -6.77 and a beta of 2.41. The company has a 50 day moving average price of $2.15 and a 200-day moving average price of $2.64. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.03 and a quick ratio of 7.64.

enCore Energy (NASDAQ:EU) last released its earnings results on Wednesday, April 1st. The company reported ($0.09) earnings per share (EPS) for the quarter. enCore Energy had a negative return on equity of 20.72% and a negative net margin of 131.75%.The business had revenue of $12.38 million for the quarter. Equities research analysts forecast that enCore Energy will post -0.2 EPS for the current year.

Hedge Funds Weigh In On enCore Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Bogart Wealth LLC acquired a new position in enCore Energy in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its stake in enCore Energy by 192.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 8,137 shares of the company’s stock worth $26,000 after buying an additional 5,356 shares during the period. Farther Finance Advisors LLC boosted its stake in enCore Energy by 222.3% during the third quarter. Farther Finance Advisors LLC now owns 8,405 shares of the company’s stock worth $27,000 after buying an additional 5,797 shares during the period. Osaic Holdings Inc. purchased a new position in enCore Energy during the second quarter worth about $29,000. Finally, Arax Advisory Partners boosted its stake in enCore Energy by 898.7% during the fourth quarter. Arax Advisory Partners now owns 11,545 shares of the company’s stock worth $29,000 after buying an additional 10,389 shares during the period. 20.86% of the stock is currently owned by institutional investors and hedge funds.

enCore Energy Company Profile

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company’s operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore’s flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.